USDINR: Buy around 65.35; resistance is placed at 65.70 | Outlook on currencies | Investment Idea | Indianotes.com


USDINR: USDINR pair recouped slightly higher from the neckline support and inched till the high of 65.47 and finally ended at 65.37 mark. According to the trend line the resistance is at 65.70, surpass above that will extend the pair till 66.00 and higher. Ahead, we continue to recommend buying around 65.35 for given targets of 65.70 and higher. Action: Buy.


EURINR: On Wednesday, EURINR pair extended its gains and rose till the high of 77.47 and ended at 77.36. On the higher side the immediate resistance is at 77.58 mark, ahead pair is likely rise till theses resistance and we advise buying on corrections around 76.80. Action: Buy.


GBPINR:
As expected GBPINR pair continued to trade within the narrow range by witnessing stiff resistance around 86.25. Surpass above the resistance level of 86.25 will provide a fresh bullish break out. The momentum indicators MACD and stochastic are slowly inching higher and is signifying positive signs. Therefore, we recommend buying on break of 86.25 for upside targets of 86.70 levels. Action: Buy.


JPYINR: On Thursday, JPYINR pair retested the supports of 57.62 and reverted back and ended at 57.75. The overall trend remains positive and advice buying around 57.62 for upside targets of 58.04 then 58.22 levels with stop loss at 57.35. Action: Buy

 

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